News

Vanguard Purchases Student Housing Complex in Frostburg

Baltimore-based Vanguard announced today that the company has purchased a 121-bed, student housing development adjacent to the campus of Frostburg State University in Western Maryland. The complex, known as Welsh Hill Commons, features seven buildings with a total of 86 one-and-two bedrooms units.

“We are excited about venturing into the student housing asset class,” said Brad Glaser, principal at Vanguard. “This is a high-quality, energy-efficient development in a location poised for growth. Frostburg University anticipates a 15% increase in its student body by 2016.”

Vanguard will retain Evergreen Associates to manage and maintain the apartment community.

Vanguard has developed retail sites in Maryland, Virginia and Delaware. Among its projects are Foundry Row, a $140 million, 50-acre mixed-use site in Owings Mills, the revitalization of Centre Court in Pikesville and Lighthouse Plaza in Rehoboth, Del. The company recently won the bid to redevelop North Point Government Center in Dundalk, Md. For more information, go to: www.VanguardRetailDev.com